Business Rundown: Biden Blocks U.S. Steel Sale In Protectionist Move

After a year of Japan’s grand plan to enter our nation’s steel market by acquiring American company U.S. Steel, President Biden has made the decision to block the proposed $14 billion deal with Japanese company Nippon Steel, citing national security risks.

Nippon representatives say they plan to challenge the decision, but with President-elect Trump already saying he would block the sale as well, they are unlikely to find friendlier negotiations come Inauguration Day.

Co-anchor of The Big Money Show, Taylor Riggs, speaks with the host of Making Money on Fox Business, Charles Payne, about why blocking this sale helps protect Americans in the future, the challenges that face the city of New Orleans tourist economy, and he previews his TV town hall coming January 16th on Fox Business.

Photo Credit: AP

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